Workflow
International Money Express(IMXI)
icon
Search documents
Intermex Launches a new Remittance-as-a-Service (RaaS) Platform to Help Businesses Simplify Cross-Border Payments
Globenewswire· 2025-07-08 12:00
Core Insights - International Money Express, Inc. (Intermex) has launched a redesigned Remittance-as-a-Service (RaaS) platform aimed at facilitating cross-border money transfers for businesses [1][2] - The platform allows companies to offer branded payment services in various markets, including Latin America and select regions in Southeast Asia, the European Union, and Africa [3][4] Company Overview - Intermex, founded in 1994, specializes in money transfers from locations such as the U.S., Canada, Spain, Italy, the U.K., and Germany to over 60 countries [6] - The company operates through a combination of digital platforms and a vast network of retail agents and company-operated stores [6] Platform Features - The RaaS platform provides a customizable system for businesses to create branded customer experiences across multiple channels, including WhatsApp and mobile apps [4] - It includes essential services such as cash pickups, home deliveries, direct bank deposits, integrated payment services, and advanced anti-fraud tools [4][5] - The platform is supported by appropriate licensing and compliance measures, ensuring adherence to regulations [4] Business Benefits - The RaaS platform aims to eliminate barriers for businesses looking to innovate and expand, providing a turnkey solution that includes infrastructure, licenses, and support teams [4][5] - Partners benefit from 24/7 bilingual customer support, business insights, and ongoing strategic guidance [4]
Intermex and the New York Red Bulls Join Forces to Bring Financial Services to Northeastern Communities Through the Shared Passion for Soccer
Globenewswire· 2025-06-17 12:00
Core Insights - International Money Express, Inc. (Intermex) has announced a partnership with the New York Red Bulls, focusing on serving the Latino community through soccer [1][2][3] Company Overview - Intermex is a leading money remittance provider, enabling consumers to send money from various countries to over 60 destinations [4] - The company utilizes proprietary technology and operates through a network of retail agents and company-operated stores [4] Partnership Details - The partnership aims to engage with Latino communities in the northeast U.S. through in-stadium activations, community outreach events, and cultural initiatives [3] - Intermex's collaboration with the New York Red Bulls highlights its commitment to supporting the sport that resonates with Latino identity and tradition [2][3] Market Context - There are over 85 million soccer fans in the U.S., with Latinos making up nearly 70% of MLS viewership, indicating a strong market for this partnership [2]
Intermex and Houston Dynamo FC Partner to Celebrate Latino Heritage and the Spirit of Fútbol
Globenewswire· 2025-06-03 12:00
Company Overview - International Money Express, Inc. (Intermex) is a leading money remittance provider focused on Latin America and the Caribbean, founded in 1994 [5] - The company utilizes proprietary technology to facilitate money transfers from various countries to over 60 destinations [5] - Intermex operates through a combination of digital platforms and a network of retail agents and company-operated stores [5] Partnership Announcement - Intermex has announced a new partnership with Houston Dynamo FC, a Major League Soccer team, aimed at promoting Latino culture through soccer [1][2] - This collaboration is significant in Houston, where over 45% of the population identifies as Latino, and Latino fans constitute nearly 70% of the MLS audience [2] Cultural and Community Engagement - The partnership seeks to enhance cultural pride, family connections, and community empowerment through various initiatives [2][4] - Intermex's Chief Product, Marketing & Digital Officer emphasized the importance of connecting with customers beyond financial services through shared heritage and passion for soccer [3] - The collaboration will include in-stadium experiences, community events, and cultural celebrations that honor the Latino community [4] Houston Dynamo FC Overview - Houston Dynamo FC is part of a multi-faceted organization that includes the Dynamo, the Houston Dash, and the Houston Dynamo Academy [6] - The club has a history of success, including two MLS Cup championships and participation in international competitions [6] - Recent investments include a multi-million-dollar renovation of Shell Energy Stadium and a new headquarters in East Downtown Houston [6]
Intermex Named Founding Partner of Dignity Health Sports Park and the Official International Remittance Partner of the LA Galaxy
Globenewswire· 2025-05-29 12:45
First-of-Its-Kind Deal Deepens Intermex’s Connection to Soccer and Latino Communities Across Southern CaliforniaLOS ANGELES and MIAMI, May 29, 2025 (GLOBE NEWSWIRE) -- The reigning 2024 MLS Cup champion LA Galaxy and their home stadium, Dignity Health Sports Park (DHSP), have launched a new partnership with International Money Express, Inc. (NASDAQ: IMXI) (Intermex), a leading money remittance provider to Latin America and the Caribbean. The multiyear agreement, brokered by AEG Global Partnerships, makes In ...
International Money Express(IMXI) - 2025 Q1 - Quarterly Report
2025-05-08 20:04
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2025 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File No. 001-37986 INTERNATIONAL MONEY EXPRESS, INC. (Exact name of registrant as specified in its charter) (State or other jurisdiction of inco ...
Here's What Key Metrics Tell Us About International Money Express (IMXI) Q1 Earnings
ZACKS· 2025-05-07 14:35
Core Viewpoint - International Money Express (IMXI) reported a decline in revenue and earnings per share (EPS) for the quarter ended March 2025, missing both revenue and EPS estimates [1][3]. Financial Performance - Revenue for the quarter was $144.31 million, down 4.1% year-over-year, and below the Zacks Consensus Estimate of $147 million, resulting in a surprise of -1.83% [1]. - EPS was reported at $0.35, a decrease from $0.43 in the same quarter last year, with an EPS surprise of -14.63% against the consensus estimate of $0.41 [1]. Key Metrics - Other income was reported at $3.96 million, exceeding the average estimate of $2.47 million by three analysts, reflecting a year-over-year increase of +26% [4]. - Foreign exchange gain, net, was $20.18 million, slightly below the average estimate of $21.20 million, showing a year-over-year decline of -0.8% [4]. - Revenue from wire transfer and money order fees, net, was $120.17 million, also below the average estimate of $125.87 million, representing a year-over-year decrease of -5.3% [4]. Stock Performance - Shares of International Money Express have returned +8.1% over the past month, compared to a +10.6% change in the Zacks S&P 500 composite [3]. - The stock currently holds a Zacks Rank 3 (Hold), indicating potential performance in line with the broader market in the near term [3].
International Money Express (IMXI) Misses Q1 Earnings and Revenue Estimates
ZACKS· 2025-05-07 14:15
International Money Express (IMXI) came out with quarterly earnings of $0.35 per share, missing the Zacks Consensus Estimate of $0.41 per share. This compares to earnings of $0.43 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of -14.63%. A quarter ago, it was expected that this company would post earnings of $0.59 per share when it actually produced earnings of $0.57, delivering a surprise of -3.39%.Over the last four quarters, ...
International Money Express(IMXI) - 2025 Q1 - Earnings Call Transcript
2025-05-07 14:02
Financial Data and Key Metrics Changes - Total revenue for Q1 2025 was $144.3 million, down from $150.4 million in the same period last year [19] - Net income was $7.8 million, with adjusted EBITDA at $21.6 million and adjusted diluted EPS at $0.35 per share, all showing year-over-year declines [10][24] - Total volume sent increased by 4%, while total transactions sent decreased by over 5% year-over-year [19][20] Business Line Data and Key Metrics Changes - Retail transactions remain the foundation of the business, but the number of transactions decreased while the principal amount sent increased [10][11] - Digital transactions grew nearly 70% year-over-year, indicating strong growth in the digital segment [13][21] - The company invested more in digital marketing than ever before, which is expected to continue driving growth [13][15] Market Data and Key Metrics Changes - Four out of five top markets saw a decrease in transactions sent, despite total volume sent increasing significantly [11][19] - The overall market for remittances to Latin America remains resilient, but consumer behavior is shifting towards sending larger amounts less frequently [8][20] Company Strategy and Development Direction - The company is focused on maintaining profitability while strategically investing in growth, particularly in the digital business [27] - The integration of La Nationale agents onto the Intermex tech platform is expected to streamline operations and reduce costs [16] - The company is committed to enhancing its omnichannel strategy, with digital being a critical component for future growth [13][18] Management's Comments on Operating Environment and Future Outlook - Management acknowledged the challenging economic, political, and immigration backdrop affecting the business model [7] - There is a belief that the current consumer behavior shift is not long-term, and the retail market will recover [34][106] - The company is revising its full-year guidance due to increased uncertainty and volatility in market conditions [25][26] Other Important Information - The company ended the quarter with $151.8 million in cash and generated over $10 million in free cash flow [17][24] - Total debt decreased to $147.4 million from $156.6 million at year-end [24] Q&A Session Summary Question: Near-term trends and behavior on retail vs digital side - Management noted that digital transactions grew much faster than retail, with digital growth at 70% year-over-year and increasing to 80% in April [32][34] Question: Revised full-year guidance and revenue trajectory - Management indicated that while revenue growth may improve, margins may not see significant improvement due to ongoing investments in digital [40][44] Question: Retention metrics and digital growth - Retail customer acquisition costs are about $2,500 per retailer, with payback in about seven months, while digital retention is slightly better than the prior quarter [50][55] Question: Monthly cadence and retail foot traffic stabilization - Management explained that they do not typically analyze monthly data due to variability but noted that retail performance is relatively stable [60][62] Question: Digital investment strategy - The company is committed to continuing its digital investments, viewing it as essential for future growth [71][72] Question: Impact of larger principal amounts on quarter performance - Management confirmed that if transactions had been at more normalized amounts, revenue could have been $7 million to $10 million higher [82]
International Money Express(IMXI) - 2025 Q1 - Earnings Call Transcript
2025-05-07 14:02
Financial Data and Key Metrics Changes - Total revenue for Q1 2025 was $144.3 million, down from $150.4 million in the same period last year [19] - Net income was $7.8 million, with adjusted EBITDA at $21.6 million and adjusted diluted EPS at $0.35 per share, all down year over year [10][24] - Total principal amount sent increased by 4% year over year, indicating underlying strength despite transaction volume decline [10][19] Business Line Data and Key Metrics Changes - Digital transactions grew nearly 70% year over year, with expectations of further growth to about 80% in April [13][31] - Retail transactions, however, saw a decline of over 5%, with the average transaction amount increasing but fewer transactions overall [19][20] - The company focused on optimizing its retail operations, improving transaction processing time from 20 seconds to 9 seconds [12] Market Data and Key Metrics Changes - Total volume sent increased in four out of five top markets, but transaction counts decreased in the same markets [11] - The company noted a shift in consumer behavior, with larger amounts being sent less frequently, impacting transaction growth and fee income [8][20] Company Strategy and Development Direction - The company is investing heavily in its digital business as part of its omnichannel strategy, viewing it as critical for future growth [13][15] - Strategic partnerships and targeted investments in retail are being prioritized to enhance profitability and operational efficiency [11][12] - The company is also focused on maintaining strong cash flow and profitability while navigating a challenging macroeconomic environment [17][26] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the resilience of the remittance market to Latin America, despite current challenges [7][10] - The company is revising its full-year guidance due to increased uncertainty and volatility in market conditions [25] - Management believes that the retail market will recover over time, while digital growth is expected to continue at high rates [33][37] Other Important Information - The company ended the quarter with $151.8 million in cash and generated over $10 million in free cash flow [17][24] - The company has initiated a restructuring process to achieve approximately $2 million in annual savings [16] Q&A Session Summary Question: Near term trends and retail vs digital behavior - Management noted that digital growth is significantly outpacing retail, with digital transactions growing at 70% year over year [31][32] Question: Revised full-year guidance and revenue trajectory - Management indicated that while digital investments may not immediately improve margins, they are expected to drive revenue growth [40][41] Question: Retention metrics and digital performance - Retail customer acquisition costs are approximately $2,500 per retailer, with payback expected in about seven months [50] Question: Monthly cadence and retail foot traffic stabilization - Management does not typically provide monthly comparisons due to variability but noted that February had a downturn compared to January [58][60] Question: Digital growth and Amigo Paizano's impact - Management clarified that the 70% digital growth was organic and not aided by Amigo Paizano [108]
International Money Express(IMXI) - 2025 Q1 - Earnings Call Transcript
2025-05-07 14:00
International Money Express (IMXI) Q1 2025 Earnings Call May 07, 2025 09:00 AM ET Speaker0 Good day and thank you for standing by. Welcome to the International Money Express Inc. First Quarter twenty twenty five Earnings Conference Call. At this time, all participants are in a listen only mode. After the speakers' presentation, there will be a question and answer session. To ask a question during the session, you will need to press 11 on your telephone. You will then hear an automated message advising your ...